Selvadurai and Dennis Crowley started Foursquare together. Selvadurai worked on the first Foursquare iPhone app, but since then the company has added many more engineers and developers. The company has come a long way since those early days, and has attracted investment dollars from some of the biggest investors in business such as Union Square Ventures, Spark Capital, DST Technologies and Andreessen Horowitz.

The New York-based company, which moved into new offices recently, is currently said to be valued at over $700 million and has been growing its team in both New York and San Francisco. Crowley when speaking said at Mobile World Congress in Barcelona that his company has tripled the number of users from five million to 15 million in past one year and has signed up 750,000 merchants.

UPDATE: Selvadurai confirmed his departure in a blog post. He did not say what he is moving on to but said he will be a familiar face around Foursquare.